No Fear at the Top Over the Next Recession

Recessions are simply a short intake-of-breath for the rich

and there’s a reason why.

They invented a heads-I-win,

tails-you-lose economic environment when we weren’t looking. It’s the

nearest we ever came to alchemy—the turning of base metals into gold.

Let me explain.

In a recession—or even a major

crash—two things happen.

1.  Things

lose their value. Stuff like houses and cars and shoes for your kids are

cheaper.

2.  Money

doesn’t do that. Money increases in value. The cash you stashed under

the bed, because you didn’t trust the banks, will buy more after a

recession.

But you and I, along with other

ordinary folk aren’t able to buy more, because our beds have feathers

inside, so it doesn’t help us. We’re having trouble enough paying the mortgage

and keeping our kids in school.

But the rich, the wealthy, whatever you choose to call those

dudes at the top, have lots of money—or access to it, which is pretty

much the same thing.